A billion dollars --$1,000,000,000 -- is a thousand millions of dollars --or a million thousands of dollars.
A trillion dollars --$1,000,000,000,000 -- is a thousand billions of dollars or a million millions of dollars.
Correct me if I have this wrong, Someone --I'm not a math person, but if I'm right about these figures, what Obama is doing is STAGGERING, STUNNING, ASTONISHING!
Here we are, already in national debt --10.8 trillion on Feb. 26, 2009.
So what can we do???
Oddly, hypocritically, we heard about the staggering budget deficits and national debt being all GWBush's fault --yet congress would not let him reform Medicare, Medicaid, Social Security or any other entitlement program. AS YOU CAN'T GET ELECTED BY GORING ANYONE'S OX! RIGHT? They could not cut their earmarks, reduce spending --and some of them like Daschle, couldn't even pay their taxes! Additionally, as a nation, we were generous beyond belief for all the natural disasters, rebuilding Iraq to better than pre-war infrastructure; we borrowed money to help the victims of terrorism, AIDS, war --with no idea of how we were ever going to be able to pay it back. But how do politicians who need votes ever get in power if they don't give to everyone who asks??? Consider also that those who did this disaster relief work and other labor for the gov't. have CHARGED TOP DOLLAR! Everybody wants to be a millionaire and charges a fortune for their services. INFLATION of that sort has much to do with our deficit and debt.
From Mark Knoller's Political hotsheet, CBS NEWS:
Tony Fratto... served President Bush as deputy press secretary and as a spokesman in the Budget Office and Treasury Department.(emphases, mine)
He calls the Obama Administration's budget "the height of audacity."
Speaking for himself, Fratto charges the current White House is trying to "mask huge spending increases under the cloak of 'fiscal responsibility.'” And he rejects the current president’s charge that the previous Administration's budgets were full of hidden numbers and omissions.
"Our budgets were honest, open, and transparent. Every dime spent was presented, debated, voted on, and counted," said Fratto in a statement e-mailed to CBS News.
And he defended the Bush White House practice of putting war spending in “supplemental” appropriations bills.
"(It) was done to avoid permanently baking those appropriations into the Defense Department's baseline budget. That's good budgeting, not a 'gimmick.’”.
Until now, Mr. Bush ran up the biggest deficits and the largest amount of National Debt in U.S. history. The National Debt increased $4.9-trillion on his watch.
The new budget plan shows the title of biggest spender will fall to Mr. Obama.
That's what perplexes me. If Bush's deficit spending and his increase in the national debt were so terrible, why are the Democrats rushing to outspend him???? BY TRILLIONS!!!!! with all the bail-outs (which I understand because we don't want our pensions, insurances, and bank savings to disappear --but they will anyway through taxes and inflation) --but not just bail-outs, but NEW programs, NEW spending by gov't hoping that higher taxes on the few wealthy Americans will pay all these people's salaries in the new make-work programs. The bite in taxes will hurt business even further, causing more lay-offs, bankruptcies.
We really are playing Robin Hood --trying to help all groups --even if they made their own messes --and the people we are penalizing and expecting to come up with these trillions, are the small business folks and above, in income. So, many more will lose their jobs and be in financial trouble.
I wonder how many of our banks' short-falls, came from those who failed to pay credit card and education debt, bought houses and cars they could ill afford. All that credit spending without paying it back is part of the banking problem. The constant building of new malls, restaurants, and homes --puts people to work --but also puts people and places out of business. Investors hoping for a windfall on a sure thing found that we don't have enough consumers who aren't already in debt up to their eyeballs to sustain all the new businesses. After all, we aren't getting married and making babies anymore! A majority of Americans have been living above their means for years --and average per capita debt is several thousand in each household.
What a mess!
"God is not willing that any should perish, but that all should come to repentance and have eternal life."--the Bible